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Groupon Inc. (GRPN) stock prices were falling early Friday after media reported that a board meeting about CEO Andrew Mason’s performance ended without any announcement of plans to replace him. The development is a recent example of continuing market skepticism about the daily deal website in the wake of questions about its accounting.

“The board and the management team are focused on the performance of the company and they are all working together with heads down to achieve Groupon’s objectives,” Paul Taaffe, a spokesman for Groupon, said in an article by Bloomberg on Thursday afternoon.

Groupon shares dropped by around 6.5% compared to the previous close to $4.25 per share in early trading on Friday.

As we pointed out in June, continuing investor pessimism about Groupon underscores the importance of corporate governance. At the time, Groupon’s shares had declined more than 50% in the year to date. As of Friday morning they have declined around 80% in the year to date.

Instead of doing everything in its power to restore credibility, Groupon’s management continues going in the other direction and dropping new unpleasant surprises on investors. For example, when Groupon released its first annual earnings report this March, its independent auditor Ernst & Young objected. The company had to announce revisions such as lowering the amount of fourth quarter revenue reported earlier by $14.3 million and operating income by $30 million.

If Groupon’s management are truly working together with heads down to achieve Groupon’s objectives, they should take every step possible to persuade the market that they’ve turned over a new leaf.